A victory for Bitcoin - page 2. | Bitcointalksearch.org

CryptoRex.one

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Quote from: Rabata on March 28, 2023, 02:15:49 PM

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Coinbase's former CTO Balaji Srinivasan's prediction about bitcoin price is not realistic for most people(1 btc=1 million USD). Some consider such activities as a tactic for his personal campaign. Some others consider as a reflection of his long-held views on Bitcoin. However, it is easy to imagine Srinivasan's bold prediction of 1 million in 90 days made a big impact on the Bitcoin market. In my opinion, it is not important how much Bitcoin can increase in value in 90 days because people who believe in Bitcoin do not invest in it for a short period. Srinivasan's prediction has shown that Bitcoin is likely to reach new heights. Coinbase's former CTO Balaji Srinivasan should be respectful of his recent thought of bitcoin.

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.

Generally we know that what is capable of taking Bitcoin valuation to unprecedented heights is a market cap. Various institutional investments in Bitcoin have multiplied its market cap in recent times. Public companies like Tesla, Voyager Digital LTD, MicroStrategy are now investing billions of dollars in Bitcoin, which naturally adds to Bitcoin's adoption of legitimacy.

If one bitcoin is seen as equal to 1 million according to the current price of bitcoin, then a market cap of about 20 trillion is required. While it may seem like more at the moment, it can also be covered if a crypto revolution happens.

Another important reason why Bitcoin can reach higher in the coming days is its market dominance. Currently we can see that about 45 percent of the total investment in the market is in Bitcoin. When Bitcoin continues to rise above 65 percent or more, there will be a big change in the price of altcoins in the market and the market cap will also increase significantly.

Finally, i will say that people are learning to value BTC so we will be able to achieve it in the near future even if not in 90 days.

Almost 70% of all bitcoins have not moved for at least a year

This indicates a growing realization that bitcoin is undervalued

lionheart78

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Quote from: Rabata on March 28, 2023, 02:15:49 PM

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.

It is actually absurd. Srinivasan's prediction has a timeframe and it is too short to make Bitcoin reach $1m let alone half a million dollars in just 90 days. It isn't the price that is absurd but the time frame given.

We all know that in due time when adoption proliferate in every corner of the world. $1m per BTC is nothing because of it finite supply and the Bitcoin lost along the way of price realization.

Quote from: Rabata on March 28, 2023, 02:15:49 PM

Finally, i will say that people are learning to value BTC so we will be able to achieve it in the near future even if not in 90 days.

Learning the value is not enough if there is no adoption. Adoption creates demand that will make the price of BTC skyrocket. So by simply learning the value and no adoption is involved, Bitcoin will never reach $1m let alone in 90 days.

Frankolala

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Don't be deceived by any speculator,some of them are just saying what they like to get firm and followers. We are in the real life and not living a life of fallacy,I don't think this is possible for bitcoin price to hit $1m in 90 days. The price of bitcoin is 27+ which I don't see under which circumstance this will be possible.

Bitcoin is not a ponzi project and will never work like one. You are already in this forum,it is better you learn about bitcoin price speculation here,than listening to cock and bull stories from people out there who thinks they know everything or can predict the future accurately. Even after bitcoin halving,during the bull run when the price get to it's ATH,this is impossible.

Cookdata

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Quote from: utybbas2 on March 29, 2023, 10:50:51 AM

I'm gonna be honest, I don't quite believe it will hit 1 Million dollar in such a short time, although I don't think it's impossible, but on the other side I think it will finally hit the so dreamed 100k, in 90 days, I truly believe it.

People will say whatever their mind says to them, they will say anything for attention, must of the guys that predict this kind of price are either attention seekers who invested $100 and expect bitcoin to give them 10x which is impossible right now. I wonder if they do check the chart of bitcoin before they predict this kind of thought from their mind. It took bitcoin more than 12 years to stabilize at this price, what more do you think will happen before we reach $1 million per bitcoin, we may one day if the fundamentals of bitcoin remain intact but I am not sure if we will have anything close that price even in 5 years to come if we are to be honest with ourselves.

SirLancelot

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Quote from: Plaguedeath on March 29, 2023, 07:50:42 AM

When Bitcoin was created, it's already a victory for us because we're have a choice to not trust government due to it's centralization and corruption, instead we can be own bank with Bitcoin. The victory of Bitcoin is because of the purpose and value, not only about the price. If price is the reason why Bitcoin is a victory, someone can create a new coin where the price is more expensive than Bitcoin.

If I remember there is a coin last time whose value is more than 1 Bitcoin but I don't have any update with that coin anymore but I am sure that BTC overtakes it now. Even the value of that coin is higher than in Bitcoin last time, Bitcoin is still on the first rank. That is how strong Bitcoin is.

I guess it's enough to say that Bitcoin is already victorious among other cryptos. Bitcoin is created to be decentralized but many governments are seem to disagree with it and that is why they are trying to create regulations. It may not be directly in Bitcoin but we are still feeling it. Anyway, Bitcoin is still Bitcoin and it was still different compared to the fiats.

FanEagle

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I would guess that 1 million will happen, it's just that it won't happen right now. 20 trillion is not as big as people think it is, we are talking about what 10+ trillion for gold marketcap already? It means that overtime bitcoin can become 20 trillion marketcap, that shouldn't be a difficult thing to achieve.

The trouble is not "will it happen" but when will it happen, because I believe that looking at how much nations print money these days, in 10-15 years we could have 1 million dollars per bitcoin, or latest in about 25 years. That is a long time to wait, and maybe it will happen earlier, but that doesn't mean that it will never happen, just not now.

Tony116

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Quote from: Woodie on March 29, 2023, 07:30:15 AM

Quote from: Tony116 on March 29, 2023, 04:17:54 AM

When investing in bitcoin, we have the right to dream and expect, I like people who are always optimistic about investing but don't be too delusional but realistic. I don't see his prediction having any impact, and he's nobody in this market

Dont know about Balaji Srinivasan's prediction but I wonder what impact this would have if the likes of Elon Musk said the same because the man does have the influence to convince people to take a keen interest and the media will equally pick up the story and have a ripple effect , though his not the type that loves to speculate about crypto related matters unfortunately...

But I believe people like Elon will never do that, they support bitcoin but will never be too obvious or stupid to put a specific number in their prediction. Because they know that if they guess wrong, it will damage their reputation. We have seen Elon tweet about bitcoin many times but never talked about a specific number. Actually, I don't know who Balaji Srinivasan is, I only know him through this news. It can be seen that he's just trying to get attention, but I'm not going to bother and follow this guy, he's doing crap.

o48o

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Quote from: Rabata on March 28, 2023, 02:15:49 PM

Coinbase's former CTO Balaji Srinivasan's prediction about bitcoin price is not realistic for most people(1 btc=1 million USD). Some consider such activities as a tactic for his personal campaign. Some others consider as a reflection of his long-held views on Bitcoin. However, it is easy to imagine Srinivasan's bold prediction of 1 million in 90 days made a big impact on the Bitcoin market. In my opinion, it is not important how much Bitcoin can increase in value in 90 days because people who believe in Bitcoin do not invest in it for a short period. Srinivasan's prediction has shown that Bitcoin is likely to reach new heights. Coinbase's former CTO Balaji Srinivasan should be respectful of his recent thought of bitcoin.

Although Srinivasan's recent prediction may seem absurd to some, it is actually a very reliable prediction in the long term. He made this prediction based on the US banking system and hyperinflation, which makes it difficult to dismiss.
-cut-

Then why did he make short term prediction? I can see why many people would see 1 btc in $1M some day but predicting such a move in 90 days is just beyond delusional and can only hurt his credibility.
However i remain skeptical of that $1M target because if there's not going to be some new method for free energy, bitcoin in $1M most likely would need insane hash power and since govenrnments have been worried about the energy consumption in $50k, then think how much heat bitcoin would get in $1M.

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Balaji is betting on USD to inflate so high that US government will print tons of tons of money that even when 1BTC will have a value of $1M, the buying power of it may not be as $1M today. But obviously, he overdo it becuase it will not happen as instant as 90 days, it may not even happen in 10 years.

His speculation is because of the bank crisis that is happening all over the world. It's not even reported in the media like France raiding a number of banks.

kryptqnick

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I think that $1 million is not completely out of question for Bitcoin in the future, but certainly not in any near future or the next bull run. That's just way too big of a jump, in my opinion, and 90 days is not enough time, I'm confident of that. It seems that the CTO is a very well-educated person who is experienced in investments. It might be a marketing thing, but if he really bet $2 million on this, it's a huge and risky bet as well. Maybe for him, though, it's not a big amount of money, and he figured that the hype it will bring him and perhaps Bitcoin itself (which he probably holds as an investment) will outweigh the lost bet. So maybe there's just more going on here than meets the eye.

Dr.Bitcoin_Strange

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For Bitcoin to reach 1 million dollars in 90 days is just some kind of crack joke, but in the Bitcoin space, people are full of speculation and can believe whatever they choose to about price movement. In the imagination of humans, it's possible for Bitcoin's price to go boom, but in reality, it may not even get to $60,000 this year. Still in the imagination of Balaji Srinivasan, if Bitcoin gets to $1 million, then a lot of Bitcoin holders would be tempted to sell, and I really wonder if not all the major Bitcoin holders will not be tempted to sell all their holdings. 😜😂

hZti

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Prices will not hit 100k or 1 million in 90 days obviously but that is also not necessary at all. It is good enough to have a steady rise for the next 12 month to bring back the euphoria to Bitcoin and have new projects developed. If prices will go up to quick they will also go down quick and that’s never good.

utybbas2

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I'm gonna be honest, I don't quite believe it will hit 1 Million dollar in such a short time, although I don't think it's impossible, but on the other side I think it will finally hit the so dreamed 100k, in 90 days, I truly believe it.

Fiatless

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Quote from: Supreemo on March 29, 2023, 05:54:39 AM

At first when bitcoin's price was low they thought it was impossible to reach $10,000. Then it reached $20,000, they said it is impossible to reach $50k. So when will they start trusting the price to reach $1M? I feel like they are one of those people who keeps disregarding bitcoin not because they want to, but because they have invested but wants to invite more people to invest just to pump the price.

The price of bitcoin will forever be unpredictable because it is influenced by many economic indicators. One million dollar price is very attainable but not in ninety days. It might take some years to achieve that feat. Many investors never believed that it will get to almost Twenty Eight thousand dollars currently because they thought the price will recover next year but Bitcoin has kept winning. I will like bitcoin to hit the $1m mark but my prediction is that it will hit $100k by the end of next year. Regardless of the government's strategies to crash the bitcoin market, it will keep overcoming those roadblocks and breaking new grounds in terms of price. The best advice any bitcoiner should get now is keep accumulating and holding.

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Quote from: Supreemo on March 29, 2023, 05:54:39 AM

At first when bitcoin's price was low they thought it was impossible to reach $10,000. Then it reached $20,000, they said it is impossible to reach $50k. So when will they start trusting the price to reach $1M? I feel like they are one of those people who keeps disregarding bitcoin not because they want to, but because they have invested but wants to invite more people to invest just to pump the price.

I remember those days when many people didn't believe bitcoin could go up to $10k, reach $20k and come down again.

And finally, the price can reach $ 50k, almost $ 60k, which many people can't believe. And they started buying bitcoins at a price that is still considered the peak price and it turns out that the price has dropped dramatically again, making many people lose their way in holding their bitcoins. And once this condition recovers, we will see the next high where it is possible to reach $100k. So keep holding on to bitcoins tightly and keep on accumulating bitcoins.

Mr. Magkaisa

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- Do you really believe mate that within 90 days Bitcoin will be 1M$ each? we are not even at the date of Bitcoin halving in 2024 then with such an amount you are blinded that it will really happen.

There's nothing wrong with believing in Bitcoin, but it's worth talking about how much it will be, since it was created until now no one has predicted the exact value of bitcoin on its date and day. Let's just be honest, it's his right to predict but that doesn't mean that's what will actually happen, that's why predictions are uncertain.

kelechi

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Looks like BTC is winning each day

alexkut987

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One of the factors that could contribute to Bitcoin's rise is its market cap, which has been increasing due to various institutional investments in Bitcoin. If Bitcoin's market cap reaches about 20 trillion, then the prediction of 1 BTC equaling 1 million USD could become a reality.

knowngunman

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That very statement of his that BTC to hit $1m within that short time shouldn't be taken seriously. That price prediction is nothing but an absolute joke. You just lured me to open this thread with your misleading title Grin

How on earth is this unrealistic imagination (at least for now) a victory for Bitcoin? OP don't tell me you being optimistic is tempting you to see this as a victory for Bitcoin already.

Plaguedeath

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When Bitcoin was created, it's already a victory for us because we're have a choice to not trust government due to it's centralization and corruption, instead we can be own bank with Bitcoin. The victory of Bitcoin is because of the purpose and value, not only about the price. If price is the reason why Bitcoin is a victory, someone can create a new coin where the price is more expensive than Bitcoin.

Topic: A victory for Bitcoin - page 2. (Read 440 times)